股权顶层架构设计是创始人掌控企业控制权的重要命脉，这需要我们设计好股权架构，而股权架构好的方式就是设计生命线。根据专门的人士研究发现，股权架构有多条生命。只有把握好这多条生命线，股权架构才能合理合规，才不会让创始人失去对控制权。下面具体分析每条股权控制线。

The design of equity top-level structure is an important lifeline for the founder to control the enterprise. This requires us to design the equity structure, and the way to design a good equity structure is to design the lifeline. According to the research of special people, the equity structure has many lives. Only by grasping these lifelines can the equity structure be reasonable and compliant, and the founder will not lose control. The following is a detailed analysis of each equity control line.

绝对控制线:67%。

Absolute control line: 67%.

绝对控制线，顾名思义是指创始人掌握了企业的67%的股权，对企业修改公司章程、合并、变更主营项目、重大决策等有绝对控制权利。

Absolute control line, as the name implies, means that the founder holds 67% of the equity of the enterprise and has absolute control over the modification of the company's articles of association, merger, change of main business projects, major decisions, etc.

相对控制线是指创始人占据企业股份的权。从法律层面上来说，这只是机对企业的重大决策先决有相对控制，一部分事项由创始人决定，但是涉及重大事项、增家减资，以及企业的解胞。注锁路入人没有决定权，需要股东会投票决定

The relative control line refers to the right of the founder to occupy the shares of the enterprise. From the legal point of view, this is only the relative control over the major decision-making prerequisites of the enterprise. Some matters are decided by the founder, but it involves major matters, the increase of family and the reduction of capital, and the dissolution of the enterprise. Note that the lock-in person has no right to decide, and needs to be decided by the shareholders' meeting

安全控制线:34%。

Safety control line: 34%.

是指创始人对于董事会的决议拥有一票否决权，也可以理解为创始人对企业的控制处于一条安全线上。

It means that the founder has a veto over the resolutions of the board of directors, which can also be understood as the founder's control over the enterprise is on a safe line.

根据《公司法》规定，企业的重大决策需要三分之二以上表决权通过，如果有一个股东拥有超过三分之一的股权，另一方的表决权就无法达到三分之二以上，那么该企业的重大决策就无法通过。如此，就代表创始人只要拥有34%的股权，就拥有了控制企业的生命线，即安全控制权。但是，对于其他只需要半数以上通过的事宜，创始人就无法拥有否决权。

According to the provisions of the Company Law, the major decisions of an enterprise need to be passed by more than two-thirds of the voting rights. If one shareholder owns more than one-third of the equity, the other party's voting rights cannot reach more than two-thirds, then the major decisions of the enterprise cannot be passed. Thus, it means that as long as the founder owns 34% of the equity, he has the lifeline of controlling the enterprise, that is, the security control right. However, the founder cannot have the veto over other matters that only require more than half of the votes.

同业竞争线:20%。

Horizontal competition line: 20%.

是指上市企业所从事的业务，与其控股股东所控制的其他企业，或实际控制人所控制的其他企业所从事的业务相同或相近，双方构成直接或者间接的竞争关系。法律上对此并无明确规定，一般认为，关联企业特指一个股份公司通过20%以上的股权关系或者重大债权关系能控制或者影响任何企业，包含股份公司的大股东、子公司、并列子公司以及联营公司等。

It refers to that the businesses of listed enterprises are the same or similar to those of other enterprises controlled by their controlling shareholders or other enterprises controlled by their actual controllers, and both parties form a direct or indirect competitive relationship. There is no clear provision on this in the law. It is generally believed that an affiliated enterprise refers to a joint-stock company that can control or influence any enterprise through more than 20% of the equity relationship or major debt relationship, including the major shareholders, subsidiaries, consolidated subsidiaries and associated companies of the joint-stock company.

临时会议线:10%。

Temporary meeting line: 10%.

是指股东如果拥有10%的股份，就可以拥有举行临时会议的权利，并拥有临时提出质疑、调查、起诉、清算、解散公司的诉权。因此，在设计股权架构、做股权激励或者引进投资者时，好不要让企业的某个利益小团体的持股比例超过10%。

It means that if shareholders own 10% of the shares, they can have the right to hold an interim meeting, and have the right to challenge, investigate, sue, liquidate and dissolve the company temporarily. Therefore, when designing the equity structure, making equity incentives or introducing investors, it is better not to let the shareholding ratio of a small group of interests of the enterprise exceed 10%.

股权变动线:5%。

Equity change line: 5%.

是指上市企业如果有超过5%的股权要转让或者变更，就需要进行公示与披露。除此之外还有以下规定:企业必须就拟上市公司与持有拟上市公司股份5%以上的关联方之间是否存在同业竞争等进行说明。

It means that if more than 5% of the equity of a listed enterprise is to be transferred or changed, it needs to be publicized and disclosed. In addition, there are the following provisions: enterprises must explain whether there is horizontal competition between the proposed listed company and the related parties holding more than 5% of the shares of the proposed listed company.

根据该规定，IPO审核中同业竞争的判断范围扩大至持有拟上市公司以上的关联方，包括:持有拟上市公司5%以上股份的法人股东及其控制的企业，以及直接或间接持有公司5%以上股份的自然人股东的直系亲属所控制的企业。

According to this regulation, the judgment scope of horizontal competition in the IPO review is extended to the related parties holding more than 5% of the shares of the proposed listed company, including the legal person shareholders holding more than 5% of the shares of the proposed listed company and the enterprises controlled by the direct relatives of the natural person shareholders who directly or indirectly hold more than 5% of the shares of the company.

临时提案线:3%。

Temporary proposal line: 3%.

是指企业股东拥有3%的股份，就拥有临时提案的权利。《公司法》规定:单独或者合计持有公司3%以上股份的股系。可以在能东大会召开十日前提出临时提案并书面提交董事会董事会应当在收到提案后两日内通知其他股东，并将该临时提案提交股东大会审议。临时提案的内容应当属于股东大会职权范围，并有明确议题和具体决议事项。

It means that the enterprise shareholders have the right to make temporary proposals when they own 3% of the shares. The Company Law stipulates that the stock system that holds more than 3% of the company's shares alone or in total. An interim proposal can be put forward and submitted in writing to the Board of Directors ten days before the convening of the Nengdong General Meeting. The Board of Directors shall notify other shareholders within two days after receiving the proposal and submit the interim proposal to the General Meeting of Shareholders for deliberation. The contents of the interim proposal shall fall within the scope of the functions and powers of the shareholders' meeting, and have clear topics and specific resolutions.

代位诉讼线:1%。

Subrogation litigation line: 1%.

是指企业股东如拥有1%的股权，就可以拥有间接的调查与起诉权，也称派生诉讼权。《公司法》百五十一条规定:有限责任公司的股东、股份有限公司连续180天以上单独或者合计持有公司1%以上股份的股东，可以书面请求监事会或者不设监事会的有限责任公司的监事向人民法院提起诉讼:监事有本法百五十条规定的情形的，前述股东可以书面请求董事会成者不设董事会的有限责任公同的执行董事向人民法院提起诉论。

It means that if the shareholders of an enterprise own 1% of the equity, they can have the indirect right of investigation and prosecution, also known as derivative litigation. Article 151 of the Company Law stipulates that the shareholders of a limited liability company or the shareholders of a joint stock limited company who individually or jointly hold more than 1% of the company's shares for more than 180 consecutive days may request in writing the board of supervisors or the supervisor of a limited liability company without a board of supervisors to file a lawsuit in the people's court: if the supervisor is under the circumstances specified in Article 150 of this Law, The aforesaid shareholders may request in writing the executive director of the limited liability company of which the board of directors has no board of directors to file a lawsuit in the people's court.

股权顶层架构设计的生命线从控制权开始了解清楚，更多相关股权的问题或者的需求，随时网站https://www.chinanovo.net咨询联系！

The lifeline of equity top-level structure design is clear from the control right. For more equity related issues or needs, please visit the website at any time https://www.chinanovo.net Consulting contact!